Replies to post #383774 on Elite Pharmaceuticals Inc (ELTP)

[mrwrn2010]

Question for Nasrat on the next call - has the FDA/DEA communicated with Elite recently on the drug shortage and if so, is Elite going to be allocated additional amphetamine API from these other manufacturers not meeting their quotas in this calendar year and/or in future years?

[jour_trader]

That doesn’t mean anything for Elite. It might simply mean those not producing much actually start moving on it. Your $70M from Adderall is completely and entirely unreal for 2024.

[kayak_wench]

Read it again. They are not going to TAKE the quota they are going to ASK that the companies relinquish it.
Definition of relinquish is to voluntarily cease to keep or claim; give up.

[The ELTP King]

August 2, 2023, almost a YEAR AGO:

Read the first full paragraph on Page 2, especially the last sentence of this paragraph.

Elite is about to double its revenues in 2024 to $70 million.

The DEA is going to take the leftover API quota from the manufacturers who aren't producing their full allotment and give it to Elite.